New Case Filing by BNSK Featured on CBS News This Morning
Twenty-year-old Alex Kearns took his own life last June mistakenly believing he’d lost nearly $750,000 in a risky bet on Robinhood, the stock-trading app where he started trading as a teenager.
His parents filed a lawsuit, first obtained by CBS News, on Monday accusing Robinhood of wrongful death, negligent infliction of emotional distress and unfair business practices.
While the company’s stated mission is to stand up for the little guy and “democratize finance,” Alex’s mother and father say in the lawsuit that Robinhood targeted young and inexperienced customers, then pushed them to engage in risky trading practices. And when those investors needed help — as Alex did the day he died — Robinhood provided no “meaningful customer support,” the suit says.”
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